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the partial or total remission of debts, especially those owed by developing countries to external creditors.

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- Written by James Truslow Adams in his novel "Epic of America"
- "The dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement."
- Anyone, regardless of class or social status, can attain the same level of success in life.

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Production of more of a product than is wanted or needed.

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Revoke or annul a law or constitution.

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The smoothness or equality with which income is dealt out to members of a society.

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Practice of a nation paying out more money than it is receiving in revenues.

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Practice of making high-risk investments in hopes of obtaining larger profits.

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Theory of total spending in the economy (known as Aggregate Demand) and its effects on output and inflation.
- Recessions and expansions
- Government should increase demand to boost growth.

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Programs and legislation enacted by Franklin D. Roosevelt during the Great Depression to promote economic recovery and social reform.

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-1930s
- Term used for central and Southern Great Plains during the 1930s when the region suffered from drought and dust storms that greatly affect life and agricultural production.

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- October 29. 1929
- Stock prices fell sharply during the Great Crash which resulted from investors playing the stock market how they wanted.
- Nearly half of America's banks failed and unemployment increased.

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Periodic growth and contraction of the economy.

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- Period lasting from 1929 After the Great Stock Market Crash to 1941 before WWll started in which the U.S economy faltered and unemployment soared.